Minimizing Taxes With a Roth IRA

Nov. 23, 2012 1:32 p.m. ET

Before year-end, taxpayers—especially retirees—should take a hard look at whether to convert part or all of their traditional individual retirement accounts into Roth IRAs, says Joel Dickson, a tax specialist at Vanguard Group.

If taxes rise next year, Roth accounts will become even more attractive. Qualified withdrawals are tax-free, so they won't be subject either to higher rates or the new 3.8% investment-income tax. Nor will they...